Temporary Deferment of Loan Repayments

Mar 23, 2020

The coronavirus outbreak is painting a bleak outlook on the country’s economy. With the two-week restricted movement order (from 18^th March – 31^st March 2020) issued by the Malaysian government, the nation is facing greater financial uncertainty.

What does it mean for property buyers? If you or your loved ones are affected by this pandemic situation, several banks have offered financial assistance to reduce your financial burden throughout this difficult period. Malaysians can now apply to defer loan repayments up to 6 months from their respective banks.

These repayment schemes vary from one another. See the list below to know the assistance offered by the banks and how you can contact them.

Bank	Assistance Provided	Requirements & Contact Information
Public Bank	Moratorium of up to 6 months for monthly instalment loan payments Restructuring/rescheduling of loans	Apply at the respective branch or by calling Identification card/NRIC Contact: 07-218 6800 1800-22-5555
Affin Bank	Moratorium of up to 6 months for monthly instalment loan payments Restructuring/rescheduling of loans	Complete the application form Fingerprint verification Show evidence that the applicant is affected or present related supporting documents Contact: 03-2055 9000
UOB Bank	Moratorium of up to 6 months for monthly instalment loan payments, but the 6-months mortgage interest will be added into the total amount Extension of loan tenure to more than 6 months	Download and fill in the form online or at the nearest branch Provide supporting documents: Employer/company letter or any proof to show that you are affected by COVID-19 Contact: 07-360 6967 07-366 6968 crmgtpfsd@uob.com.my
RHB Islamic Bank Berhad	Moratorium of up to 6 months for monthly instalment loan payments Restructuring/rescheduling of loans	Submit a letter from doctor/hospital to confirm that you have contracted the virus/are under treatment, or Show evidence that your monthly income has been affected: present employment letter, salary slip with evidence of deduction in salary/bank transaction Write a request letter and fill in the application form before submitting documents Contact: advocacy@rhbgroup.com 1300-88-5464
Hong Leong Bank	Moratorium of up to 6 months for monthly instalment loan payments Restructuring/rescheduling of loans	Email the request form or present it at any of the branches Provide documentary evidence on income/employment/business affected Contact: HLonline @hlbb.hongleong.com.my 03-7959 1888
CIMB Bank	Moratorium of up to 6 months for monthly instalment loan payments Restructuring/rescheduling of loans	Write a request letter for moratorium arrangement and walk-in to the nearest branch Contact: 03-6204 7788
Maybank	Moratorium of up to 6 months for monthly instalment loan payments Restructuring/rescheduling of loans	Download, fill in and sign the request form from their website Send a scanned copy via email or apply at the nearest branch Contact: 1300-88-6688 mgcc@mayank.com.my
AmBank	Moratorium of up to 6 months for monthly instalment loan payments Restructuring/rescheduling of loans	Fill in the request form online or at any branches Provide documentary proof on income/employment/business affected Contact: 03-6204 8888

Making mortgage payments can add to the stress during this difficult time. To reduce your financial burden and ease your cash flow management throughout the COVID-19 pandemic, it is worth exploring the relief measures that your bank is offering.

If you know a friend or a loved one who is currently affected by the virus outbreak, do let them know of this useful financial support.

Need help? Reach out to us here.

# COVID-19 # Deferment of loan repayments # Financial relief

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